Wages in Germany
The German economy recorded average wage growth of 2.4% in the decade to 2022, slightly above the 2.2% average for the Euro Area. In 2022, wage growth was 2.6%.
Germany Wages Chart
Note: This chart displays Wages (ann. var. %) for Germany from 2018 to 2017.
Source: Macrobond.
Germany Wages Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Wages (ann. var. %) | 3.0 | 2.2 | 1.5 | 2.6 | 4.0 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects German wages projections for the next ten years from a panel of 7 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable wages forecast available for German wages.
Download one of our sample reports to visualize what a Consensus Forecast is and see our German wages projections.
Want to get access to the full dataset of German wages forecasts? Send an email to info@focus-economics.com.